Nortel Networks, currently restructuring in court-ordered creditor protection, said Wednesday it is cutting an additional 3,200 jobs around the world.

The telecommunications company said the cuts are on top of 1,800 remaining staff reductions that were announced earlier and are yet to be completed.

Nortel said the cuts will be made over the next several months.

"There is nothing more difficult than notifying employees, and Nortel is extremely conscious of the personal financial burden this will cause affected employees and their families," said Mike Zafirovski, Nortel's president and CEO.

Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.

Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.

Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.

Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.

Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.

Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.

Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.

Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.

Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.

Canadians travelling in other countries outspent foreigners coming to this country by a record amount in 2008, according to new statistics released Thursday.

Statistics Canada said Canada's international travel balance — the difference between what its citizens spent abroad versus what foreigners spent in Canada — produced in 2008 the largest deficit ever: $12.6 billion, a 26 per cent increase over 2007.

Canada's wandering classes spent a total of $28.9 billion on trips abroad last year, $7.2 billion in the final three months.

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

A coalition of more than 70 technology companies, including internet search leader Google, online retailer Amazon and voice over internet provider Skype, is calling on the CRTC to ban internet service providers from "traffic shaping," or using technology that favours some applications over others.

In a submission filed Monday to the Canada Radio-television and Telecommunications Commission (CRTC) in advance of a July probe into the issue of internet traffic management, the Open Internet Coalition said traffic shaping network management "discourages investment in broadband networks, diminishes consumer choice, interferes with users' freedom of expression, and inhibits innovation."

A Winnipeg woman has launched a class action lawsuit against concert ticket giant Ticketmaster for overcharging.

According to the woman's lawyer, her daughter bought tickets through a Ticketmaster subsidiary for around $200 each when the original ticket price was just $57.

"It's highly offensive to the consumer [and] it's highly offensive to Manitobans who just want to go see a concert and pay a fair and reasonable price for it," said Matthew Maruca. "They don't want to pay 10 times the face value of the ticket."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

Canwest Global Communications Corp. is selling its stake in Score Media Inc., the owner of The Score all-sports television channel, back to the company.

Canwest said late Tuesday it would sell its more than 16.5 million Class A shares of Score Media at a price of 40 cents a share, making the sale worth about $6.6 million.

Score Media shares closed Tuesday at 54 cents.

John Levy, Score Media's chairman and CEO said the deal reflects his company's "continued commitment to enhancing shareholder value and positions us to continue our growth in the competitive media space. We are pleased that our strong balance sheet allows us to continue to invest in the company while returning value to our shareholders."

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

Wednesday, February 25, 2009

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

A new study says Canada lost nearly one in seven manufacturing jobs between 2004 and 2008, or about 322,000 positions.

However, more than 1.5 million jobs were created in the rest of the economy during the same period, Statistics Canada reports.

The share of manufacturing jobs in the economy fell to 11.5 per cent in 2008 from 14.4 per cent in 2004, the agency says.

The report says employment has fallen in almost all manufacturing industries since 2004, with only a few reporting increases — notably manufacturing of transportation equipment (excluding motor vehicles and parts), petroleum and coal products, and computer and electronic products.

Fewer basements dug, less concrete poured, and far fewer bricks were laid in Canada in 2008 than in 2007.

Canada Mortgage and Housing Corp. says housing starts fell 7.5 per cent to about 211,056 units in 2008. And that’s just the beginning. The agency forecasts sharply lower levels of starts for the next two years, along with sliding home sales.

Fewer basements dug, less concrete poured, and far fewer bricks were laid in Canada in 2008 than in 2007.

Canada Mortgage and Housing Corp. says housing starts fell 7.5 per cent to about 211,056 units in 2008. And that’s just the beginning. The agency forecasts sharply lower levels of starts for the next two years, along with sliding home sales.

Thursday, February 19, 2009

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.

Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.

Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

Loblaw Companies Ltd. said Wednesday that stronger sales, an absence of restructuring charges and a gain from the sale of its food services business helped propel it to a big jump in its fourth-quarter profits.

The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.

Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.

The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.

Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.

Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.

The U.S. Federal Reserve cut its outlook for the performance of the battered U.S. economy on Wednesday, saying it now expects a contraction of between 0.5 and 1.3 per cent this year.

Back in mid-November, the Fed projected that 2009 could see anything from a contraction of 0.2 per cent up to expansion of 1.1 per cent.

"Given the strength of the forces currently weighing on the economy," Fed officials "generally expected that the recovery would be unusually gradual and prolonged," according to the Fed's new economic outlook.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

Newfoundland and Labrador Premier Danny Williams said Wednesday that AbitibiBowater will get less than it expects for assets the provincial government has moved to expropriate through legislation.

The pulp and paper company recently put a price tag on those assets in documents filed with the U.S. Securities and Exchange Commission, saying while it still is evaluating the full impact of the expropriation, the assets are roughly worth $300 million.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

The Canadian dollar tumbled more than one cent against the U.S. dollar after trading down by two cents earlier in the day.

While the loonie sank, North American stock indices were hit with triple-digit losses.

Nervous investors appeared to seek safety in the U.S. dollar and in gold after a G7 finance ministers meeting over the weekend that did not produce much in the way of new economic strategies to deal with the world economic downturn.

Canada's broadcast regulator says it wants to allow one-year licence renewals to conventional television broadcasters, such as CBC, CTV and Global in spring 2009, because of the financial issues faced by the industry.

The Canadian Radio-television and Telecommunications Commission usually renews broadcast licences for a seven-year period.

The CRTC issued a statement Friday outlining the issues it will cover in its spring 2009 hearings, including the amount of local programming and Canadian programming broadcasters should produce.